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Home >> Personal Banking >> Credit Schemes >> Finance Against Mortgage of Immovable Property

For Business & Personal needs:


Personal Needs: Employees of Central/ State Govt./ Schools/ Colleges/ Public Sector Undertakings (PSUs)/ Reputed Corporates and Other Income Tax Assesses, who are below the age of 60 years.

Business Enterprise : Existing customers with a satisfactory track record of three years (cash profits during last three years and net profit in the immediately preceding year)

Income Criterion
For salaried and other income tax assesses: Minimum net monthly salary of Rs.10,000/- for last three years (salaried class) or minimum net annual income of Rs.1,20,000/- (for other income tax assesses).
For Business Enterprises: Minimum Net annual income/ Net Profit of Rs.120000/- and above.
Quantum of Finance  
For Personal needs: Rs 1.00 lac to Rs 5.00 lac.
For Business needs : Rs. 10.00 lac to Rs. 300.00 lac.
Assessment of limit
The assessment of limit will be carried out keeping in view three parameters as under and limit shall be fixed least of the followings:

     *    Maximum 75% of the realizable value of the property
     *    Maximum three times of Annual Gross Income /Gross Profit, whichever is lower (In case              of Term Loan).
     *    Maximum Four times of Annual Gross Income /Gross Profit, whichever is lower (In case
          of overdraft).

     *   For Loans allowed to Salaried employees and Other Income tax assesses - Net Income
         should be double that of Monthly Instalment in case of Term Loan as well as Overdraft                  limit on monthly reducing DP basis. 

     *  For Loans allowed to Business Enterprises - Net income should be 1.5 times that of EMI in  
        case of Term Loan and that of interest amount ( on full sanctioned limit)  in case of     
        Overdraft limit. Interest and depreciation charges will be added back for the purpose of
        arriving at Net Income/ profit.


Rate of Interest
Linked to Rating as per PNB Score/ PNB Trac. Concession from 0.25% to 0.75% based on realizable value of property  
Processing Charges/ Upfront fee  
0.90% of the loan Amount (Maximum Rs 45,000/-) exclusive of Service tax & Education Cess  
Documentation Charges
Rs 900.00  exclusive of Service tax & Education Cess  

Equitable Mortgage of the unencumbered residential House/Flat or commercial or industrial property (in the shape of building/ Industrial Shed) self occupied or vacant

Repayment (Maximum)

Loan amount together with interest to be repaid in maximum 84 Equated monthly instalments (EMI) OR upto the age of 65, whichever is earlier.

In case of facility sanctioned in shape of Overdraft facility allowed on Monthly Reducing Drawing Power basis, Drawing Power be reduced every month on pro-rata basis



Prepayment charges
2% in case of takeover by other bank/ Financial institution
Above are only salient features of the scheme. For details please contact nearest branch  
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